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What is the advantage and disadvantage of a foreclosure?

Before going to any foreclosure auctions you need to know them clearly what the advantages and disadvantages of a foreclosure are. By going through this page you can come across the pros and cons of foreclosure. So hang on.

If you are buying your foreclosure from an auction you have only 2 advantages. At the foreclosure auction you get, instead of a high bidding, a low starting. But at the bank, negotiations generally start at the full-appraised value and it is you, who exercise pressure on them to reduce the price. The second advantage of being at a Foreclosure Auction is that these mark a less crowed.

However, if you are being foreclosed, no matter from where you have bought the foreclosure, because you are unable to pay your financial responsibilities, then the consequence is definitely bad. It’s definite that you will lose your house with a foreclosure plus if there is any equity that will also be lost in the process. In addition to these losses, your credit will get ruined, and it’s better for you not to plan buying another house immediately. So you must be financially prepared if you go for a foreclosure, and its better if you can make your payments clear on time.

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How will the credit crunch affect real estate sales in the US?



There is a piece of good news for the small business owners who are involved with ‘owner-occupied commercial real estates’. There is a very less chance that the credit crunch will affect real estate sales in the United States.

It has also been seen that the credit crunch is influencing homeowners and is not just affecting ‘commercial real estate loans’. According to Chris Pettersen, Vice President of U.S. Bank, SBA division, “The residential lending downturn has had no impact on SBA commercial real estate financing”.

For the small business owners, commercial real estate can be a solid investment.

This particularly possible if the area, for a considerable period of time, had been experiencing low ‘commercial vacancy rates’ and ‘low interest rates’. Commercial real estate has long been strong in Ventura County, either going up or holding its value since 1996, Pettersen said.

Much in contrast to the ‘residential lending market’, there has been no requirement for commercial real estate lenders to alter their credit parameters. Investing in real estate business condominiums allows small businesses to obtain facilities that conform to their needs, especially since the experts feel that the credit crunch will not affect real estate sales in the United States.

What can I do if I rent and the property is being foreclosed?



Homes low as $10k from RealtyStore.com

If you rent and the property is being closed, and your landlord wants to legally evict you from this house, what he must do at the very first place is to file a suit. If your landlord files a suit against you in the court, then you shall get in turn, from the court, some legal documents. This is called the petitions and summons which would ask you to appear before the court. This document would also tell you what your landlord is demanding and where to appear before the court.

It wouldn’t be wise to ignore the lawsuit because if you do so, then you may face problems later. This is because of the fact that if you do not appear before the court in time, then a default judgment will be entered against you. But in the other way round, if you have any thing against your landlord, then in that case you have to file a suit against him.

A landlord is forbidden from unlawfully throw you out without a court order, i.e., by locking you out, eliminating doors to your residence, closing off your utilities, or dispatching you of your property. The local police would be of immense help to you in these cases.

Where is the best place for real estate investment in Florida?



In many parts of the country, real estate is on the decline. In Florida, however, the opposite is taking place. Now, is the best time to purchase a piece of real estate in the Sunshine State. Why is now such a great time to buy? The job rate is increasing and so is the purchase rate. Those two things together equal a great profit for you in the long run.

There is currently a process called “pre-construction investment” that allows you to purchase a home that is being built for a small down payment. As the construction continues, the home value goes up. By the time the construction is complete, the home is worth that you originally financed and you’ve made some money.

Here’s how it works. You purchase a piece of land from the construction company or a developer. Often times, you’re only required to put a small amount down (like $5,000). While the home is being built, you’re not required to make payments on the loan; this allows you to sit on the equity. When the home is complete, you can sell it for the current market value and earn the equity as profit.

So where can you find land that qualifies for pre-construction investment? Ask any developer. Chances are, there are neighbors being built all over the state.

Roll Your thrift savings plan tsp In Real Estate For Foreclosures

So you want to get a great investment of your TSP. Well your TSP should be rolled into real estate. But not just any old real estate. With the sub prime mortgage issue looking to continue hurting real estate prices your best bet is to find homes at rock bottom prices. There is no better way to find that than with property foreclosures. These are sometimes called distressed homes. I have actually seen some of these properties sell for under $10,000.00. So here is what you want to do, you can use your TSP or what is better known as the Thrifty Saving Plan. What exactly is this? The Federal Thrift Savings Plan, or TSP, is a retirement savings plan for USA civilians who are currently, or previously were, employed in the service of the United States Federal Government and is for those individuals in the United States uniformed services. This TSP as of July 31, 2007 have over USD$224,000,000,000, that’s a lot of cash floating around. You don’t need to roll it over in real estate you just need to pay a low $50.00 and apply for a loan. This loan can be used to purchase a foreclosed loan. This is a brilliant plan that many people are putting in action. However your first step is to:

Find A Listing Of Foreclosed Homes First:


WAIT!

Then when you sign up contact the TSP offices at 1-TSP-YOU-FRST (1-877-968-3778) and find out how much you qualify for. Then browse the List and look for properties that fall in that bracket.

Once you have done that then you are off to the races in finding a better investment.

Try and sign up for these guys too they offer a very large and comprehensive list of foreclosed properties.

 


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